Currency Symbols and Names in Forex Trading
Currency Symbols and Names in Forex Trading you must know before opening a forex trading position. If you don’t understand the name of the currency and the symbols used, you are like going to the market but don’t know the name of the item you are going to buy, confused, right? It should be noted that all currency symbols consisting of three digits such as the dollar have a USD symbol. The first two letters indicate the name of the country and the third letter indicates the name of the currency, for example, the dollar (USD), the first two letters, namely US, are the names of American countries and D is the abbreviation of the name of the dollar.
The majority of currencies that are traded are called Major Currencies and the following are the names of currencies traded on the forex market.
The so-called major currencies are trading currency pairs that always involve the dollar (USD) like the following EUR / USD.
Trading currencies that do not involve the dollar (USD) are called cross currency pair trades like the following EUR / CHF.
Euro currency pairs (EUR) without involving the currency called Euro Cross so EUR / CHF is the Euro Cross group as well as EUR / JPY, EUR / GBP, EUR / NZD, EUR / CAD, and EUR / AUD.